SunCar (SDA) signs 3yr deal with CITIC

Digital after-sales automotive company, SunCar Tech. (NASDAQ: SDA) announced Tuesday that it has signed a three year designated driving service agreement with China’s seventh-largest lender, CITIC Bank.

CITIC operates over 160 branches in mainland China as well as branches in Hong Kong, Macau, New York, Los Angeles, Singapore and London.

SunCar's designated driving service has gained significant popularity among its esteemed institutional clients, including CITIC. These clients incorporate SunCar's service into their loyalty programs, making SunCar the preferred choice for value-added services during both domestic and international business travel.

Shares of SDA are down 4.24% in afternoon trading on Tuesday.

By Michael Elkins | [email protected]

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